Having a solid team in place who understands and commits to your goals is essential for success in any endeavor, and real estate investing is no different. When I think about the various successes I’ve had in life, I can’t help but think of all the guidance and support I received from others that helped me reach my desired destinations. I’ve always understood the value in teamwork, and as I’ve matriculated through entrepreneurship, that value has all but doubled in my book.
When it comes to getting this real estate coin, I’d venture to say it’s utterly impossible to do without the right team in place. Let me explain. My very first real estate purchase was a small condo. I was in law school at the time, didn’t have much money, and really just wanted to make a good investment. I knew that owning was better than renting, so that’s what I wanted to do. I didn’t know much about real estate, so I hired the first realtor that I spoke with and the cheapest attorney I could afford. You wanna guess how that turned out? Lol.
I didn’t end up getting the worst deal in the world, but I did end up paying well over the amount I should have paid considering factors like: the (then) state of the market; market trends; comparable properties; etc. My ignorance cost me a fairly high price, but only because I didn’t have the right team in place. Had I hired the right team back then, that investment would STILL be rather lucrative today . . . over ten years later.
By the time I made my second real estate investment purchase, I understood the value in diligently vetting and assembling my team. I’d say my first investment wasn’t a loss, but it certainly wasn’t a win.
The second time around though, I won! Period. I won. But I attribute that to my amazing team. My amazing realtor and I created a strategy that resulted in some serious equity and cash flow increase for ya girl! Lucky for me, I get to be the attorney on my team. Lucky for you, I can be the attorney on your team too. *wink wink*